(Last Updated July 29, 2022 1:36 GMT)
Currently, AUDUSD’s rate is up 4 pips (0.05%) from the hour prior. AUDUSD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
AUDUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
AUDUSD entered today at 0.69976, down 3 pips (0.04%) from yesterday. Compared to its peers in the Forex, AUDUSD gave its buyers a return that ranked 10th in terms of percentage change since yesterday. Below is a price chart of AUDUSD.
AUDUSD Technical Analysis
The first thing we should note is that AUDUSD is now close to its 20, 50, 100 and 200 day averages, located at 0.6854, 0.6971, 0.7125 and 0.7157 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 8 out of the past 14 days.